HKMA and SFC Unveil Plans to Integrate Digital Assets into Core Market Functions

The Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission (SFC) are moving forward with plans to integrate digital assets into their core market functions. The HKMA is upgrading its settlement system, the Central Moneymarkets Unit (CMU), to run on blockchain by the end of this year. This will enable round-the-clock, real-time settlement for a digital Hong Kong dollar and central bank digital currency (CBDC). The CMU will also study whether tokenized deposits and regulated stablecoins can settle directly on the platform.

The SFC is working to introduce new licensing rules for digital assets and has identified two areas of focus: short-term measures to deepen links with mainland China and global markets, and medium-to-long-term plans to develop a regulatory framework for tokenized investment products. These will include tokenized gold and other real-world assets (RWAs). The regulator is also boosting financial security by watching over digital asset custody and using its CrypTech market-surveillance tool.

Stablecoins are already being used in Hong Kong, with two issuers licensed by the HKMA: HSBC and Anchorpoint Financial. Anchorpoint's HKDAP token has been live since April 2026 and is redeemable one-for-one for Hong Kong dollars. Standard Chartered plans to use it for settling tokenized money market funds later this year.